Reeves: Britain’s partnership with the Gulf will deliver for working people October 30, 2025 The Chancellor says her recent visit to the Gulf has boosted trade with the region – creating jobs and bringing investment into British businesses As I return from Riyadh – where I led the largest ever UK business delegation to the Future Investment Initiative I’m more convinced than ever that the partnership between our two [...]
Barclays and Santander top highest customer exodus after outages October 30, 2025 Barclays and Santander recorded the highest net losses of current account switches in the second quarter of the year after outages disrupted thousands of customers’ online banking. Over 22,000 users switched from Barclays in the three months to June 2025, with just under 4,000 joining, marking a net loss of over 18,000. Santander recorded a [...]
Complaints to banks ombudsman fall after Treasury clamp down October 29, 2025 Complaints to the banking ombudsman have tumbled in the three months to September 2025 after the Treasury launched its own clamp down. The Financial Ombudsman Service (FOS) recorded 46,300 complaints in the quarter, down from 73,700 in the same period last year. In the three months to June, 68,000 complaints were recorded. The fall followed [...]
Santander UK boss: Government must overrule FCA on motor finance October 29, 2025 Santander UK has said it will delay its third-quarter earnings report due to “uncertainty” following the financial watchdog’s motor finance redress scheme. The Spanish banking giant was due to publish its financial report for the third-quarter on Wednesday but has put it on hold “pending greater clarity regarding the [Financial Conduct Authority]’s proposals”. The bank’s [...]
FTSE 100 Live: Next sales jump; GSK profit upgrade October 29, 2025 Good morning from the City AM liveblog team. If there are fears about an AI bubble, no one’s telling the folk over on Wall Street. Yesterday both Apple and Microsoft saw their stocks jump, making them both $4tn companies, joining an exclusive club of which chipmaker Nvidia is the only other member. This was the [...]
Barclays snaps up US personal loans fintech for $800m October 28, 2025 Barclays is set to take control of a US personal loans fintech in a deal that the lending giant hopes will beef up its loans package for its investment bank clients. The FTSE 100 bank said it would use consumer loan platform Best Egg as an “origination engine” after snapping the firm up for $800m [...]
City watchdog accused of ‘massive overreach’ in motor finance clampdown October 28, 2025 The Financial Conduct Authority (FCA) has been accused of a “massive overreach” following letters sent to law firms and claims management companies (CMCs) requesting batches of information under the new Digital Markets, Competition and Consumers law. The FCA sent letters in August, seen by City AM, requesting information on the law firms’ motor finance services, [...]
FTSE 100 giant Natwest shares surge to 15-year high October 27, 2025 Natwest shares rallied to a 15-year high on Monday morning after the lending giant’s post-results stock boom continued into the new week. The FTSE 100 titan’s shares were up over one per cent in early trading to 578.60p. It follows the group netting £2.2bn in operating profit before tax for the third quarter – a [...]
Motor finance: Where do the banks, regulator and Treasury stand? October 24, 2025 The UK banking sector had hoped the Supreme Court’s motor finance ruling would finally switch off the hazard lights and allow lenders to return to business as usual. The industry was handed a lukewarm win by the highest court in the land, who ruled in favour of the banks on two out of three cases. [...]
Another US lender tumbles as credit jitters accelerate October 24, 2025 Another mid-sized lender filed for bankruptcy in the US, highlighting the growing strain in American credit markets which Andrew Bailey has likened to the subprime crisis that foreshadowed the Great Financial Crisis (GFC). Primalend, a Texan provider of subprime financing to car dealerships, said in a filing on Wednesday that it had collapsed after months [...]